European Union governments agreed to allow quarantine-free travel for vaccinated tourists and visitors from countries deemed safe, paving the way for the resumption of hassle-free trans-Atlantic flights, Bloomberg News reported. Ambassadors from the EU’s 27 member states backed a proposal to waive quarantine for those with coronavirus inoculations approved by its drug regulator, including shots from Pfizer Inc., Moderna Inc. and Johnson & Johnson. The approval could be finalized this week and implemented soon after.

The liquidators of Carillion have struck a deal with a specialist litigation funder to bankroll a £250m lawsuit against KPMG, the collapsed outsourcer’s former auditor, the Financial Times reported. Litigation Capital Management, an Aim-traded litigation funder, said on Wednesday it had entered an agreement with certain Carillion entities to finance a claim in the English High Court over how KPMG conducted its audits of the outsourcing group.

The 19 nations that share the euro are facing financial risks that are elevated and uneven, the European Central Bank warned Wednesday, and more targeted stimulus could be required as the region recovers from the coronavirus crisis, CNBC.com reported. The pandemic has hit different economic sectors with varying degrees of severity and speed, with tourism and hospitability among the most impacted. In its latest financial stability review, the ECB warned that this uneven shock is concentrating risks in very specific nations and parts of the euro zone economy.

Imports to Ireland from Great Britain slumped in March, as Brexit continued to impact business between the two countries, Bloomberg News reported. Goods imports from Great Britain, which does not include Northern Ireland, fell 31% in March compared to a year ago to 992 million euros ($1.2 billion), Ireland’s statistics office said in a statement, continuing a trend since the U.K. left the EU. Goods imports dropped 48% in the first three months of the year. Exports to Great Britain from Ireland increased 13% during March compared to a year ago.

The Council of the EU is questioning the demands of the U.S. on countries to roll back national "unilateral" tech taxes once a global levy on multinational companies is agreed on, according to a document obtained by POLITICO. The pushback comes in the form of an internal Council document that the Portuguese EU presidency has prepared for a technical meeting on Friday among tax officials.

A consortium of Indian banks led by the State Bank of India (SBI) on Tuesday moved a step closer in their attempt to recover debt from loans paid out to Vijay Mallya's now-defunct Kingfisher Airlines after the High Court in London upheld an application to amend their bankruptcy petition, in favour of waiving their security over the embattled businessman's assets in India, the Tribune of India reported.

The European Commission wants to propose in 2023 a more unified way of taxing companies in the European Union, hoping that such rules, which have failed to win support in the past, will stand a better chance if they follow global OECD solutions expected this year, Reuters reported. The Commission will present a plan on Tuesday including this proposal and other measures for adjusting the EU's business taxation to make it more up to date with the modern world, where cross-border business, often carried out via the Internet, is commonplace.

Russia's largest standalone oil processing plant, the Antipinsky oil refinery, was sold on Tuesday for almost 111 billion roubles ($1.50 billion) as part of bankruptcy proceedings, an online sale platform showed, Reuters reported. The online platform showed that a company called Rusinvest completed the purchase of the plant located in West Siberia. Most of Russia's oil refineries are controlled by big oil companies, such as Rosneft and Lukoil.

Britain's unemployment rate fell again to 4.8% between January and March, when the country was under a tight lockdown, and hiring rose further in April, according to data that showed employers gearing up for the easing of curbs, Reuters reported. Economists polled by Reuters had expected the rate to hold at 4.9%, and the reading added to signs that the labour market will escape the severe hit feared at the onset of the coronavirus pandemic, thanks mostly to government jobs subsidies.